Out-of-State Investors Looking for Toledo Market Insights & DSCR Loan Advice

[Tejas Padhiar]

Hi everyone,

My partners and I (5 members, all based in California) formed an LLC in Ohio to invest in multi-family properties. A few years ago, we purchased a duplex in Toledo, and now we're considering expanding our portfolio with either a triplex or quadplex in the area.

Since none of us live in Ohio, we’d love to hear from local investors, brokers, and realtors about the current market:

• -     Does it make sense to buy now, or is it better to wait?
• -     How’s rental demand in Toledo—any recent trends we should know about?
• -     Are there any economic or policy changes that could affect multi-family investing in the near future?

We plan to finance our next property using a DSCR loan and would appreciate any advice from investors who’ve used one recently:

• - How easy is it to get a DSCR loan for a Toledo property?
• -     What are lenders typically looking for in terms of DSCR ratios, down payment, and reserves?
• -     Any recommendations for lenders who specialize in DSCR loans?

Would love to hear any insights or experiences from folks who know the Toledo market well. Appreciate any guidance—thanks!